Please enable JavaScript.

Coggle requires JavaScript to display documents.

Chapter 1 15/7/2019 (The PESTEL Model (Economic (Interest Rates, Inflation…

- - - - Thinking about existing products and services
        
        Improve existing products or service
        
        To Provide a cheaper substitute
        
        Bing about an improvement in the production process so as to reduce the prices
    - - Improve Product Accessibility
      - How does the product reach the consumer
    - - Everything Else
      - Improve on something that already exists
      - Find new Uses of products
      - There are 5 ways
        
        Develop a new product or service
        
        Improve an existing product or service
        
        Find a new process or resource for manufacturing a product
        
        Find new markets for existing products or services
        
        Find a new use for a product or service
    - - Case Study for Food Sector in India
        
        Indian fast food/finger food
        
        Family diners
        
        Sandwich & Salad parlours
      - Service sector is the most growing feilds these days
      - Case study of Tourism Industry in India
    - - Carry out a market research
        
        Yeilds valuable data
      - Market research can be defgined as any organized effort to gather information about target markets or customers
      - Market research to maintain competitiveness
    - - Ideas can be generated based on Natural Resources
      - A product or service may be derivede from
        
        Forest resources, agriculture, horticulture
        
        Mineral
        
        Animal Husbandry
        
        Wind Sun
        
        Human Resources
- - - - obtain a concept of the product or service
      - Whether this product is already available
    - - Examined for their real life use and application
      - find out its present use
      - modifying it for better use
    - - Depending on the use, the amount that is expected to be consumed, Modified manufacturing strategy
    - - Cost of production
      - Competition Price
      - Per unit cost
    - - Market competition
      - Market competition should be assessed through a study of the trends in demand and supply
    - - Technology is required
      - Training and application should be available locally
      - position of supply of plant and machinery
    - - Market share of the product or service
    - - Demand
        
        Size of the market
        
        Segments of the market
        
        Prefrences Tastes
      - Supply and nature of competition
        
        Quantities of the product made available in the market by all the existing players
        
        Future supplies from possible entrants
      - Cost and Price of Product
        
        Cost of production and its comparison with available products
        
        Cost variable of competitors
        
        Delivery Mechanism
      - Project innovation and change
        
        prevailing innovations anf changes being carried out by existing entrepreneurs
        
        Change the quality and influence the cost and price ultimately